Caribou Biosciences Inc. investors got final court approval for a $3.9 million settlement to their lawsuit claiming the biopharmaceutical company overhyped its cancer treatment in statements surrounding its 2021 initial public offering.
Judge Rita F. Lin approved Caribou’s deal with investors over its allegedly inflated stock price in an order and final judgment on Tuesday in the US District Court for the Northern District of California.
Investors, who sued in 2023, alleged that Caribou overstated its clinical trial studies and commercial prospects for its CB-010 cell therapy to treat stubborn forms of lymphoma. These overstatements appeared in IPO documents and ...
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